CFA考試一級章節(jié)練習(xí)題精選04017附詳解

1、CFA考試一級章節(jié)練習(xí)題精選 0401-17 （附詳解）1、 An analyst collects data relating to five commonly used measures of use of debt (leverage) and interest coverage for a randomly chosen sample of 300 firms.The data comes from those firms' fiscal year 2011 annual reports. This data is best characteriZed;SOsi】A.time-

2、series data.B.longitudinal data.C.cross-sectional data.正確答案:C答案解析:“ Sampling and Estimation," Richard A. Defusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. RunkleStudy Session 3-10-dDistinguish betwetime-series and cross-sectional data.C is correct. Data on some characteristics of compa

3、nies at a single point in time are cross-sectional data.2、A graphic depiction of a continuous distribution that shows the left tail to be longer than the right tail is best described as having:【單選題】A.lepto-kurtosis.B.positive skewness.C.negative skewness.正確答案:C答案解析:“ Statistical Concepts and Market

4、Returns,“ Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. RunkleC is correct.skewed distribution appears as if the left tail has been pulled away from the mean.3、A project offers the following incremental after-tax cash flows: The appropriate discount rate to use in evaluating

5、the project is 8%. The NPV (in ?) of theproject is closest to:【單選題】A. - 1,780.B. - 1,736.C. - 922.正確答案:A答案解析：“ Discounted Cash Flow Applications," Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle 2012 Modular Level I312 - 314 a Capital Budgeting, " John Stowe an

6、d Jacques R. Gagne 2012 Modular Level I, Vol. 4, pp. 10- 11 Study Session 2-6-a, 11-36-d Calcnet present value (NPV) and the internal rate of return (IRR) of an investment. Calculate and interpret the results using each of the following methods toevaluate a single capital project: net present value

7、(NPV), internal rate of return (IRR), payback period, discounted payback period, and profitability index (PI).A is correct. Enter the given cash flows and the given discount rate into a financial calculator and solve for NPV.4、An analyst gathers the following information about the performance of a p

8、ortfolio ($ millions): The portfolio' s annual time-weightto:【單選題】A.8%.B.27%.C.32%.正確答案:C答案解析:The time-weighted rate of return is calculated by computing the quarterly holding period returns and linking those returns into an annual return asfollows: The time-weighted return (TWR) is found as fol

9、lows: 2014 CFA Level I“ Discounted Cash Flow Applications," by Richard A. DelJerald E. Pinto, and David E. Runkle Sections 3 and 3.25、 Gary McDermott runs a two-person investment management firm.McDermottinvests a stock by an equal amount of money into a family account eachyearfor four years as follo